The recently approved coronavirus stimulus bill includes a second round of the Paycheck Protection Program, designed to help small businesses hit hardest by the pandemic. Also known as the “second draw loans” here is what we know: The Paycheck Protection Program (PPP) now allows certain eligible borrowers that previously received a PPP loan to apply…
On December 27, 2020, Congress signed the Consolidated Appropriations Act for 2021. This new law provides a range of benefits to individuals and businesses who have been adversely affected by the coronavirus pandemic. The bill also outlines the intending funding to operate all areas of the government for the next fiscal year. We’ve highlighted some…
Last week the SBA published the Paycheck Protection Program (PPP) Loan Forgiveness Application. Although the application is not overly technical, there is flexibility in borrower interpretation of information required which can affect the outcome of the loan amount. (UPDATE): The House approved legislation on May 28th, making it easier for recipients of the PPP to…
On March 27, 2020, The Senate and House passed the Coronavirus Aid, Relief and Economic Security Act (CARES) which has now been signed into law and includes the following provisions: Individual Tax Relief Individual taxpayers will receive checks (known as stimulus checks) from the IRS in the amount of $1,200. Joint filers will receive $2,400.…